Will it hurt your credit score if you close a credit card for a company that has gone bankrupt?
Ex: Friedmans has gone bankrupt (all locations closing why would I need it) and I just PIF. I decided to close it, but then wondered it doing so would hurt my credit score, since my debt to credit ratio has just gone down.
Public Comments
- no i dont think so. it aint your fault that they are bankrupt and you don't owe them no money
- credit bureaus' score is based on "Credit Usage" if they're going banckrupt and you won't use the card there's no point keeping it. Closing a card never affects you negatively unless you get in the habit of getting cards, then closing them after the 0% or whatever "trial" period they offered. Close it. :)
